NZDUSD Wave Analysis – 3 January, 2022

• NZDUSD reversed from pivotal resistance level 0.6840

• Likely to test support level 0.6700

NZDUSD currency pair recently reversed down from the pivotal resistance level 0.6840 (former strong support from August) intersecting with the upper Bollinger Band and the 38.2% Fibonacci correction of the downward price impulse from November.

The resistance zone near the resistance level 0.6840 was strengthened by the upper Bollinger Band and by the 38.2% Fibonacci correction of the downward price impulse from November.

NZDUSD currency pair can be expected to fall further toward the next support level 0.6700 (which reversed the waves 1 and (b) in December).